PayPal now Welcomes Buying, Selling And Shopping on the Network through Cryptocurrency
This indeed is a happy new for the PayPal customers since they will be able to make the right use of cryptocurrencies. This would give them a platform to shop at more than 26 million merchants on the network. PayPal would start this process in early 2021. As of now, PayPal Holdings Inc has joined the market of cryptocurrency on Wednesday. This merger has benefited the customers to a great extent. They will be able to sell, buy and even hold the virtual coins along with bitcoin with the help of online wallets of the U.S. digital payments company
The service for the PayPal customers will soon be starting from the coming year, giving them an open gate to deal with more than 26 million merchants. In one of the recent interviews, President and Chief Executive Dan Schulman stated that PayPal is undoubtedly aiming to encourage global use of the virtual coins through such service. That is why they are also trying to make its network for the trending digital urgencies created by the corporations and central banks. He further added that PayPal is now working with the central banks and planning to come up with different digital currencies
Such service, for now, is available for the U.S account holders. Through this service, the customers can have the cryptocurrencies in their PayPal wallets in the coming week soon. Many other fintech companies such as stock trading app firm Robinhood Markets Inc also let the users make the purchase and selling of cryptocurrencies. However, the launch of such currencies on PayPal indeed is a noteworthy one since it would reach out to the mass audience. No doubt that Cryptocurrencies are volatile, but they can only attract speculators, but not much appealing to merchants. With cryptocurrencies merger with PayPal, surely the market is hoping for some improvement.
Crypto Business World
CBW - External Analyst